The payments perspective: Micro-foundations of resource analysis

Problems in the micro-foundations of neoclassical theory, especially in partial equilibrium analysis, are being imported into the resource-based view. This paper critiques neoclassical theory and proffers new concepts more suited to strategy scholars. In particular, we develop the concepts of simple rents, rent sensitivity analysis, and the payments perspective. Copyright (C) 2003 John Wiley Sons, Ltd.